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Gulf Oil Lubricants: Volume on the mend; is it time to move in?

Gulf Oil's majority of the volume comes from the automotive segment, and with the recovery in vehicle sales, its future looks bright

August 31, 2021 / 10:59 AM IST
Gulf Oil Lubricants: Volume on the mend; is it time to move in?

Gulf Oil Lubricants | The company reported higher profit at Rs 64 crore in Q3FY21 against Rs 55.87 crorein Q3FY20, revenue rose to Rs 481.86 crore from Rs 421.86 crore YoY.

PRO Only Highlights
Quarterly performance largely backed by improved realisations
Medium-term triggers China plus and protectionist measures for tyre industry
Valuations not inexpensive; but improved medium-term outlook

Gulf Oil's place in the Indian lubricants industry   The Indian lubricant market is around $2.7-3 billion, the third-largest in the world by size, and it is expected to grow at a CAGR of 2-3 per cent over 2021-26. (image) The automotive segment is the largest constituent with about 44 per cent share, the industrial segment is around 28-29 per cent, and the rest process oil. The market is dominated by OMCs which control close to half the volume, and the rest...

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